Talos Production starts roadshow for $300 million five-year notes

By Paul A. Harris

Portland, Ore., Jan. 28 - Talos Production LLC and Talos Production Finance Inc. began a roadshow on Monday for their $300 million offering of five-year senior notes (expected ratings Caa1/CCC+), according to a syndicate source.

The roadshow wraps up on Friday, and the deal is expected to price by the end of the present week.

Citigroup Global Markets Inc. is the left bookrunner. Goldman Sachs & Co., Nomura and TD Securities are the joint bookrunners.

Apollo, Capital One, Iberia, ING, Mitsubishi and Natixis Securities are the co-managers.

The Rule 144A and Regulation S for life notes come with two years of call protection. The notes feature a three-year 35% equity clawback and a 101% poison put.

The Houston-based energy exploration and production company plans to use the proceeds to partially fund the acquisition of Energy Resource Technology GOM, Inc.

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